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PRESS RELEASE March 23, 1990

World Bank Announces Public Issue of Deutsche Mark 500 Million Bonds

The World Bank has issued DM 500 million (about US$ 293.6 million) of 10-year bonds through a 16-member international syndicate of German and foreign financial institutions led by Deutsche Bank AG. The bonds carry an 8-3/4 percent annual coupon and are priced at 100.75 for a yield of 8.46 percent on a semi-annual coupon equivalent basis. The bonds, which are noncallable, will be repaid at par on April 19, 2000.

The issue will be listed on the Frankfurt Stock Exchange.

Proceeds of the issue will be used in the general operations of the World Bank.